Thursday, September 18, 2008

'India equipped to tackle crisis'

Indian banks' exposure to the risky derivative instruments is very small because of the RBI's prudent guidelines. PWC said better regulation saved the Indian banks from the crisis, that has affected the other markets. The insurance sector is also not affected by the crisis. Even Tata AIG Insurance companies, Chidambaram said, are well capitalized and are in the position to meet their liabilities.

IMO: Decent behaviour, moral living, hard work, and other positive factors may have saved India from some of the blows suffered by the decadent corrupt and greedy (with the slogan 'greed is good') West. "It is the coward and the fool who says this is fate," goes the Sanskrit proverb. "But it is the strong man who stands up and says, "I will make my fate."